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Crocs X Bape
(BAPE)

Crocs kicks up strong Q1 results but pulls guidance as trade fears loom

The funky footwear brand is winning over new fans even amid global uncertainty.

Nia Warfield

Crocs shares jumped double digits after the quirky shoe brand posted a strong first-quarter beat.

Diluted earnings per share came in at $2.83, easily topping FactSet estimates of $2.48. Revenue climbed to $937 million, ahead of the company’s own forecast and well above Wall Street’s $908 million target.

The company’s HEYDUDE brand also crushed expectations, bringing in $175.7 million, beating both the company’s forecast and Wall Street’s $166.3 million estimate.

Crocs highlighted several high-profile collabs that helped drive engagement during the quarter, including a buzzy drop with Tokyo streetwear brand BAPE, which sparked huge waitlists, app and web traffic spikes, and nearly 70% new customer acquisition.

Still, the road ahead may be less comfy. Crocs withdrew its full-year guidance, citing a murky global trade environment and rising consumer uncertainty, making it difficult to forecast demand.

“It is possible that in the future, we could see softer demand for footwear and other consumer goods,” CEO Andrew Rees said in the company’s earnings call, “particularly given the potential for increased costs and higher prices across the industry that could further burden an already choiceful consumer.”

After the post-earnings pop, Crocs shares are now up about 2% on the year.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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